The Manufacturers Life Insurance Company Sells 76,859 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

The Manufacturers Life Insurance Company cut its position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX - Free Report) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 545,366 shares of the pharmaceutical company's stock after selling 76,859 shares during the quarter. The Manufacturers Life Insurance Company owned 0.21% of Vertex Pharmaceuticals worth $219,619,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Shorepoint Capital Partners LLC boosted its stake in shares of Vertex Pharmaceuticals by 2.9% during the fourth quarter. Shorepoint Capital Partners LLC now owns 9,810 shares of the pharmaceutical company's stock valued at $3,950,000 after purchasing an additional 280 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Vertex Pharmaceuticals during the fourth quarter valued at about $1,651,000. Coldstream Capital Management Inc. raised its position in shares of Vertex Pharmaceuticals by 2.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 4,896 shares of the pharmaceutical company's stock worth $1,972,000 after acquiring an additional 122 shares during the last quarter. RiverPark Advisors LLC raised its position in shares of Vertex Pharmaceuticals by 285.3% during the fourth quarter. RiverPark Advisors LLC now owns 393 shares of the pharmaceutical company's stock worth $158,000 after acquiring an additional 291 shares during the last quarter. Finally, Coppell Advisory Solutions LLC raised its position in shares of Vertex Pharmaceuticals by 137.3% during the fourth quarter. Coppell Advisory Solutions LLC now owns 484 shares of the pharmaceutical company's stock worth $193,000 after acquiring an additional 280 shares during the last quarter. 90.96% of the stock is owned by institutional investors and hedge funds.

Vertex Pharmaceuticals Stock Down 2.1 %

Vertex Pharmaceuticals stock traded down $10.64 during trading on Thursday, hitting $498.86. 1,451,943 shares of the company were exchanged, compared to its average volume of 1,340,291. The business's 50 day moving average is $491.24 and its 200 day moving average is $466.94. Vertex Pharmaceuticals Incorporated has a 52 week low of $377.85 and a 52 week high of $519.88. The company has a market capitalization of $128.25 billion, a P/E ratio of -226.75, a PEG ratio of 2.11 and a beta of 0.50. The company has a current ratio of 2.69, a quick ratio of 2.35 and a debt-to-equity ratio of 0.01.

Vertex Pharmaceuticals (NASDAQ:VRTX - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The pharmaceutical company reported $3.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.99 by ($0.45). Vertex Pharmaceuticals had a negative return on equity of 2.02% and a negative net margin of 4.86%. Analysts predict that Vertex Pharmaceuticals Incorporated will post 15.63 earnings per share for the current year.

Insider Buying and Selling at Vertex Pharmaceuticals

In other Vertex Pharmaceuticals news, EVP Ourania Tatsis sold 244 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $455.06, for a total transaction of $111,034.64. Following the sale, the executive vice president now directly owns 67,695 shares of the company's stock, valued at $30,805,286.70. This represents a 0.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP David Altshuler sold 3,231 shares of Vertex Pharmaceuticals stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $500.00, for a total transaction of $1,615,500.00. Following the completion of the transaction, the executive vice president now owns 26,512 shares of the company's stock, valued at $13,256,000. The trade was a 10.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,315 shares of company stock worth $2,121,012 in the last quarter. 0.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. William Blair restated an "outperform" rating on shares of Vertex Pharmaceuticals in a research report on Friday, January 31st. Barclays raised their price objective on Vertex Pharmaceuticals from $435.00 to $467.00 and gave the stock an "equal weight" rating in a research report on Tuesday, February 11th. Canaccord Genuity Group upgraded Vertex Pharmaceuticals from a "sell" rating to a "hold" rating and raised their price objective for the stock from $408.00 to $424.00 in a research report on Tuesday, February 11th. BMO Capital Markets set a $545.00 price objective on Vertex Pharmaceuticals in a research report on Friday, January 31st. Finally, Piper Sandler lowered their price objective on Vertex Pharmaceuticals from $535.00 to $533.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Ten research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of "Moderate Buy" and a consensus target price of $514.91.

Vertex Pharmaceuticals Profile

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.